Washington Daybook: Retreat

Photograph by Saul Loeb/AFP via Getty Images

Speaker of the House John Boehner, Republican of Ohio, presides over the opening session of the 113th House of Representatives in Washington.

The House Republicans’ battle plan for the upcoming debt limit debate will take shape today as members gather for a retreat in Williamsburg, Virginia. They could use one.

Speaker John Boehner removed four members from the Finance and Budget committees last month because they weren’t team players and three responded by voting against him for speaker. Oh, and his majority leader and chief vote counter both voted against deal Boehner negotiated to avert the fiscal cliff. Kumbaya.

To make matters worse for Republicans, corporate profits are doing great under President Barack Obama, even as CEOs criticize his policies. U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.

Foreclosing on a borrower will become more difficult for mortgage servicers under new CFPB rules that Agency Director Richard Cordray will explain at a field hearing in Atlanta.

Back in Washington, Vice President Joe Biden and members of Obama’s Cabinet address the U.S. Conference of Mayors’ winter meetings. Biden, who developed the gun-control agenda announced by the White House yesterday, addresses the mayors at 1:30 pm EST.

The American Bankers Association issues its forecast on monetary policy and the economy. And the World Banks hosts a Transportation conference focused on capitalizing a $175 billion commitment for sustainable transport.


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